Gurbir Grewal, the SEC’s (Security and Exchange Commission’s) head of enforcement and the former state Attorney General for New Jersey, made headlines today with the unsealed indictment of Sam Bankman-Fried, former CEO of crypto exchange FTX.

Bankman-Fried faces numerous federal fraud charges and is accused of misleading investors and using billions of dollars from his customers for his own ends.

A federal grand jury indicted Bankman-Fried on eight criminal counts, “ranging from wire fraud to conspiracy to commit money laundering and violating campaign finance laws.”

“We commend our law enforcement partners for working to secure the arrest of Mr. Sam Bankman-Fried in the Bahamas on federal criminal charges,” said Grewal in a statement. “The Securities and Exchange Commission has separately authorized charges relating to Mr. Bankman-Fried’s violations of our securities laws, which will be filed publicly tomorrow in the Southern District of New York.”

Grewal said FTX hid its actions behind a “veneer of legitimacy” that was in fact fraudulent.